the president calls for a deal by july 22. that's ten days from now. that way, congress has time to pass it before the august 2nd deadline. that's when many in the administration argue that we will start defaulting on some of our bills. stuart varney, fox business network, leading our coverage, good morning. what's this charge about spending later, stuart? >> listen very carefully to what the president said yesterday and he was quite clear, i think, in saying look, get some more tax revenue in and then you're in a position to make the investments, that means spend more on infrastructure and education, things like that. so it's get in that tax revenue in the immediate future, and then you can spend more down the road, but look, bill, just as the president was saying that, over in europe, they were descend going financial chaos, and i use that word very carefully. they are in financial chaos in part because of their massive spending and their inability to control european governance. bill let me get back to europe in a moment. but republicans, they're no